A multi-market scheduling model for a technical virtual power plant coalition
Year: 2025
Type: article
Abstract: During the transitional period of electricity market reforms in China, scheduling simulations of technical virtual power plants (TVPPs) are crucial owing to the lack of operational experience. This study proposes a model for TVPPs participating in the current multi-market; that is, TVPP coordinate bidding in the day-ahead energy and ramping ancillary market while purchasing unbalanced power and providing frequency regulation service in the real-time market. A multi-scenario optimization approach was employed in the day-ahead stage to manage uncertainty, and an improved Shapley value was utilized for revenue allocation. By employing linearization techniques, the model is transformed into a mixed-integer second-order cone-programming problem that can be efficiently solved using linear solvers. Numerical simulations based on actual provincial electricity market rules were conducted to validate the effectiveness of a TVPP coalition profitability.
Source: Global Energy Interconnection
Authors: Yiqiao Shen, Jing Meng, FuLong Song, Chunyang Liu, Xiaozhong Chen, Hanrun Wang
Institution: Shandong University
Language: English
Subfield: Electrical and Electronic Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4407087921